The reductions will apply until 23 June.
In addition to the extension of its no upfront costs range, the lender has also introduced a two-year tracker and two-year fixed rate range in addition to a five-year fixed rate mortgage. The two-year tracker rate offer is available from 5.76 with no extended tie-in, or at 4.50 per cent with an 18 month tie-in, while its two-year fixed rate has a rate of 6.04 per cent with no extended tie-in, or 5.34 per cent, with an 18 month tie-in. Its five-year fixed rate has an 18 month tie-in rate of 5.69 or with no extended tie-in at 6.02 per cent.
Announcing the rate reductions, Nici Audhlam Gardiner, Abbey head of mortgages, said: “In a rising interest rate environment where many providers are pulling their cheapest deals, our rate cuts on this range make it extremely competitive. With no booking fee, no valuation fee and no legal fees, these products offer exceptional value to any mover and cannot be matched. We’re in a position to offer these deals to customers for a limited time only and would urge customers to take advantage of the deals before the offer ends.”
David Mead, managing director at Flexible-mortgage.net, said: “Abbey has got some good fees-free remortgage products and it is good value for people with smaller mortgages. But in my view extended tie-ins have no place in the market.”
